FINANCIAL MANAGEMENT: DOD Improvement Plan Needs Strategic Focus

Abstract

The Department of Defense (DOD) is one of the largest and most complex organizations in the world. Defense operations involve about $1 trillion in assets, $310 billion in annual budgetary authority, $24 billion in monthly disbursements, and 3 million military and civilian employees. Moreover, execution of DODs operations spans a wide range of defense organizations, including the military services and their respective major commands and numerous defense agencies. Effectively managing DODs finance and accounting operations across this complex array of organizations is both a formidable challenge and prerequisite for effective and efficient departmental performance and accountability. Without reliable financial management information, DOD cannot make informed decisions among competing spending priorities and cannot effectively identify opportunities for reducing costs and reallocating resources to pressing needs. Since 1995, DOD financial management has been on our list of high-risk areas vulnerable to waste, fraud, abuse, and mismanagement.1

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Document Details

Document Type
Technical Report
Publication Date
Aug 01, 2001
Accession Number
AD1171039

Entities

People

  • Gregory Kutz

Organizations

  • United States Government Accountability Office

Tags

Communities of Interest

  • C4I
  • Cyber
  • Human Systems
  • Weapons Technologies

DTIC Thesaurus Topics

  • Accounting
  • Air Force
  • Application Software
  • Business Administration
  • Command Control Communications And Computer Systems
  • Commerce
  • Control Systems
  • Department Of Defense
  • Electronic Mail
  • Employment
  • Finance
  • Financial Management
  • Human Resources
  • Information Security
  • Information Systems
  • Inventory
  • Investments
  • Management Information Systems
  • Management Personnel
  • Management Training
  • Military Personnel
  • Money
  • National Security
  • Organizational Structure
  • Personnel Management
  • Procurement
  • Professional Development
  • Standards
  • United States
  • Websites

Readers

  • Defense Acquisition Program Management
  • Public Financial Management and Budgeting